In the kickstart video above, I take a technical look at the 3 major currency pairs - the EURUSD, USDJPY and GBPUSD. The greenback is falling vs each led by declines of over 1% vs the JPY.
The USD is lower vs all the major currencies. US yields are lower. Stocks are lower as markets react to Alphabet missing on revenues and AMD data center revenues missing. Both those company shares are sharply lower (-7% and -9% resspectively).and helping to drag down Nasdaq shares.
Looking at the major currency pairs, the snapshot of the USDJPY shows a decline of -1.02%. That is the biggest mover. The USD is also down -0.60% vs the NZD and -0.43% vs the AUD. Trump and Xi did not speak yesterday after 10% tariffs were applied to China (and Hong Kong too).
Bank of Japan Policy Head Kazuhiro Masaki emphasized that underlying inflation in Japan is gradually moving toward the 2% target, though it remains below that level for now. He attributed recent price increases primarily to cost-push factors, such as higher import costs driven by a weak yen, but expects these pressures to ease over time. While services prices are rising moderately, the BOJ plans to maintain accommodative monetary conditions to support economic activity. However, Masaki noted that the BOJ is prepared to raise interest rates further if underlying inflation accelerates as projected. That helped to send the JPY higher/USD lower.
The EU warned that they would target US big tech if Trump announces tariffs on their goods.
fOREX
In Fedspeak, late yesterday Federal Reserve Vice Chair Philip Jefferson stated that there is no urgency to implement further rate cuts, as the strength of the economy warrants a cautious approach. While interest rates are expected to decline over the medium term, Jefferson acknowledged that disinflation is likely to continue but at a potentially slow pace. He highlighted uncertainties surrounding government policy and expressed confidence that economic growth and labor market conditions will remain solid in the near term.
This morning, Richmond Fed President Thomas Barkin spoke on Bloomberg TV and provided a cautiously optimistic outlook on the economy, emphasizing favorable baseline data and a bias toward observing economic developments before reacting. While he highlighted strong consumer spending, he noted weaker investment in 2025. Barkin expects inflation to decline steadily over the next 12 months and leans toward interest rate cuts this year, while keeping the possibility of hikes on the table if economic overheating were to occur—though he sees no signs of such overheating. He acknowledged uncertainties stemming from tariffs, immigration, regulation, and broader policy impacts but affirmed that the current policy rate remains modestly restrictive and appropriately calibrated for current economic conditions.
Some of the key earnings from this morning showed:
Uber Technologies (UBER) Q4 2024: EBITDA $1.842B vs. $1.849B (MISS), Revenue $11.96B vs. $11.77B (BEAT). Shares are down -6.45% in premarket snapshot
Walt Disney Co (DIS) Q1 2025: EPS $1.76 vs. $1.45 (BEAT), Revenue $24.69B vs. $24.62B (MET).Shares are up 0.88% in the premarket snapshot.
After the close yesterday, Google missed on Revenues and cloud revenue was lower than expectations. AMD beat but data center revenue was less than expectations
Advanced Micro Devices (AMD) Q4 2024: EPS $1.09 vs. $1.08 (BEAT), Revenue $7.66B vs. $7.53B (BEAT). Share are down -9.08% in premarket snapshot
Snap Inc (SNAP) Q4 2024: EPS $0.16 vs. $0.14 (BEAT), Revenue $1.56B vs. $1.55B (BEAT). Sharea are near unchanged in premarket.
Alphabet Inc (GOOGL) Q4 2024: EPS $2.15 vs. $2.13 (BEAT), Revenue $96.469B vs. $96.56B (MISS). Shares are dwn -7.07% in premarket snapshot
Amgen Inc (AMGN) Q4 2024: EPS $5.31 vs. $5.08 (BEAT), Revenue $9.09B vs. $8.88B (BEAT). Shares are down -0.61% in premarket
US stocks closed lower yesterday with the Nasdaq and the Russell 2000 down over -1.20%. The recap from yesterday showed:
Dow industrial average rose by 134.13 points or 0.30% at 44556.04
S&P index rose 43.30 points or 0.72% at 6037.87
NASDAQ index rose 262.06 points or 1.35% at 19654.02
Russell 2000 rose 31.7 points or 1.41% at 2290.20
Today, the indices are trading lower:
Dow industrial average -62 points
S&P index down -26 points
Nasdaq index down -170 points
European major indices are mixed with the :
German DAX, unchanged
France's CAC -0.21%
UK's FTSE 100 +0.25%
Spain's Ibex +1.1%
Italy's FTSE MIB -0.65%
In the US debt market, the yields are higher with the exception of the 2 year
2-year yield 4.188%, -2.5 basis points
5-year yield 4.270%, -4.6 basis points
10-year yield 4.464%, -4.9 basis points
30-year yield 4.699%, -4 point basis points
#SeputarTrading
#ForexTrick
In the kickstart video above, I take a technical look at the 3 major currency pairs - the EURUSD, USDJPY and GBPUSD. The greenback is falling vs each led by declines of over 1% vs the JPY.
The USD is lower vs all the major currencies. US yields are lower. Stocks are lower as markets react to Alphabet missing on revenues and AMD data center revenues missing. Both those company shares are sharply lower (-7% and -9% resspectively).and helping to drag down Nasdaq shares.
Looking at the major currency pairs, the snapshot of the USDJPY shows a decline of -1.02%. That is the biggest mover. The USD is also down -0.60% vs the NZD and -0.43% vs the AUD. Trump and Xi did not speak yesterday after 10% tariffs were applied to China (and Hong Kong too).
Bank of Japan Policy Head Kazuhiro Masaki emphasized that underlying inflation in Japan is gradually moving toward the 2% target, though it remains below that level for now. He attributed recent price increases primarily to cost-push factors, such as higher import costs driven by a weak yen, but expects these pressures to ease over time. While services prices are rising moderately, the BOJ plans to maintain accommodative monetary conditions to support economic activity. However, Masaki noted that the BOJ is prepared to raise interest rates further if underlying inflation accelerates as projected. That helped to send the JPY higher/USD lower.
The EU warned that they would target US big tech if Trump announces tariffs on their goods.
fOREX
In Fedspeak, late yesterday Federal Reserve Vice Chair Philip Jefferson stated that there is no urgency to implement further rate cuts, as the strength of the economy warrants a cautious approach. While interest rates are expected to decline over the medium term, Jefferson acknowledged that disinflation is likely to continue but at a potentially slow pace. He highlighted uncertainties surrounding government policy and expressed confidence that economic growth and labor market conditions will remain solid in the near term.
This morning, Richmond Fed President Thomas Barkin spoke on Bloomberg TV and provided a cautiously optimistic outlook on the economy, emphasizing favorable baseline data and a bias toward observing economic developments before reacting. While he highlighted strong consumer spending, he noted weaker investment in 2025. Barkin expects inflation to decline steadily over the next 12 months and leans toward interest rate cuts this year, while keeping the possibility of hikes on the table if economic overheating were to occur—though he sees no signs of such overheating. He acknowledged uncertainties stemming from tariffs, immigration, regulation, and broader policy impacts but affirmed that the current policy rate remains modestly restrictive and appropriately calibrated for current economic conditions.
Some of the key earnings from this morning showed:
Uber Technologies (UBER) Q4 2024: EBITDA $1.842B vs. $1.849B (MISS), Revenue $11.96B vs. $11.77B (BEAT). Shares are down -6.45% in premarket snapshot
Walt Disney Co (DIS) Q1 2025: EPS $1.76 vs. $1.45 (BEAT), Revenue $24.69B vs. $24.62B (MET).Shares are up 0.88% in the premarket snapshot.
After the close yesterday, Google missed on Revenues and cloud revenue was lower than expectations. AMD beat but data center revenue was less than expectations
Advanced Micro Devices (AMD) Q4 2024: EPS $1.09 vs. $1.08 (BEAT), Revenue $7.66B vs. $7.53B (BEAT). Share are down -9.08% in premarket snapshot
Snap Inc (SNAP) Q4 2024: EPS $0.16 vs. $0.14 (BEAT), Revenue $1.56B vs. $1.55B (BEAT). Sharea are near unchanged in premarket.
Alphabet Inc (GOOGL) Q4 2024: EPS $2.15 vs. $2.13 (BEAT), Revenue $96.469B vs. $96.56B (MISS). Shares are dwn -7.07% in premarket snapshot
Amgen Inc (AMGN) Q4 2024: EPS $5.31 vs. $5.08 (BEAT), Revenue $9.09B vs. $8.88B (BEAT). Shares are down -0.61% in premarket
US stocks closed lower yesterday with the Nasdaq and the Russell 2000 down over -1.20%. The recap from yesterday showed:
Dow industrial average rose by 134.13 points or 0.30% at 44556.04
S&P index rose 43.30 points or 0.72% at 6037.87
NASDAQ index rose 262.06 points or 1.35% at 19654.02
Russell 2000 rose 31.7 points or 1.41% at 2290.20
Today, the indices are trading lower:
Dow industrial average -62 points
S&P index down -26 points
Nasdaq index down -170 points
European major indices are mixed with the :
German DAX, unchanged
France's CAC -0.21%
UK's FTSE 100 +0.25%
Spain's Ibex +1.1%
Italy's FTSE MIB -0.65%
In the US debt market, the yields are higher with the exception of the 2 year
2-year yield 4.188%, -2.5 basis points
5-year yield 4.270%, -4.6 basis points
10-year yield 4.464%, -4.9 basis points
30-year yield 4.699%, -4 point basis points
#SeputarTrading
#ForexTrick
